2025-2-5 03:02 |
Cryptocurrency prices remained under pressure on Wednesday as concerns about trade rose. Bitcoin moved below the important point at $100,000, while most altcoins were deep in the red. This performance may continue this week as risks remain. Let’s look at some of the top cryptocurrencies like Polkadot (DOT), IOTA (IOTA), Stellar Lumens (XLM), and Fartcoin (FARTCOIN).
Polkadot price predictionPolkadot, the popular layer-1 network, has been in a steady downward trend in the past few weeks even as it prepares for a major upgrade that will introduce Ethereum Virtual Machine (EVM) and other features.
The weekly chart shows that the coin has dropped for five consecutive weeks. This retreat happened after it retested the key resistance point at $11.50, where it formed a double-top-like chart pattern.
Polkadot has dropped below the 50-week moving average, and is nearing the important support level at $3.816. This support was crucial since it was its lowest level in 2022, 2023, and 2024. That is a sign that it has formed a triple-bottom pattern, a popular bullish reversal sign.
Therefore, the Polkadot price forecast for now is neutral. A drop below the support at $3.817 will point to further downside, potentially to $2.
On the positive side, this prolonged consolidation may be part of the accumulation phase of the Elliot Wave pattern. If this is correct, then the token may rebound to the 50% retracement level at $30, up by 500% from the current level.
DOT chart by TradingView IOTA price forecastIOTA, like Polkadot, has also been in a steady downward trend in the past few days, moving from a high of $0.6361 to a low of $0.2298, its lowest swing since November 25.
IOTA has dropped as investors prepare for the upcoming Rebased upgrade that will lead to major changes in the network. For example, Rebased will introduce a 10% staking yield and EVM and Move smart contracts.
The IOTA price has retreated below the 50-day moving average and the resistance at $0.4188, the highest level in March 11. IOTA has formed a cup and handle pattern.
There are two scenarios to watch. First, the coin may crash to the lower side of the horizontal channel, and second, it may rebound soon. A rebound will see it first retest the key point at $0/4188, followed by $0.6361, up by almost 200% from the current level.
IOTA price chart by TradingView Stellar Lumens price predictionThe weekly chart reveals that the XLM price peaked at $0.6415 in November last year and then crashed to a low of $0.2620, its lowest level in November. This crash was notable since it dropped below the lower side of the symmetrical triangle pattern that was part of the bullish pennant pattern. A bullish pennant is one of the most bullish signs in the market.
Stellar has also crashed below the support at $0.4410, its highest level in 2021 and the upper side of the cup and handle pattern.
On the positive side, Stellar is slowly forming a hammer candlestick pattern that may lead to a strong rebound soon. If this happens, the key price to watch will be at $0.6415, up by almost 90% from the current level.
Stellar chart by TradingView Fartcoin price predictionFartcoin, the popular Solana meme coin, has also crashed from its all-time high of $2.7373 earlier this year to the current $0.6600. It has dropped below the key support level at $1.3020, its highest swing in December last year.
The coin has moved downwards below the 50-day moving average and is forming a small bearish pennant pattern, pointing to a strong bearish breakdown, potentially to the support at $0.1510. This price target is down by 77% below the current level.
Fartcoin price chart by TradingViewThe post Top crypto predictions: Polkadot, IOTA, Stellar, Fartcoin appeared first on Invezz
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